Daily iron ore price update (Gina vs Andrew)

Tuesday 2 February 2016

Here are the iron ore charts for February 2, 2016:

Tianjin benchmark followed Dalian higher yesterday up 2.4% to $42.50. Paper is giving back those gains today. Rebar is stable. Port stocks fell 1.1 million tonnes to 94.4mt last week. We’re now shutting down for CNY, from Reuters:

“There was some restocking of iron ore and some mills think they have enough stocks in hand while some small mills are planning maintenance,” he said.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.